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A Firm That Accepts the Price as Determined by Industry

question 265

Short Answer

A firm that accepts the price as determined by industry supply and demand is called a ______.

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Definitions:

Jean-Paul Sartre

A French existentialist philosopher, playwright, and novelist known for his exploration of freedom, existentialism, and the absurd.

Erich Fromm

A German social psychologist, psychoanalyst, sociologist, and humanistic philosopher known for his theories on the tethers of freedom.

Escape From Freedom

A concept referring to the evasion of personal responsibility that leads individuals to seek refuge in authoritarian systems.

Determinism

Determinism is the philosophical theory that all events, including moral choices, are completely determined by previously existing causes.

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